BankAmericard® Secured Credit Card
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If you’re looking for a way to better your credit, the BankAmericard Secured was designed to do just that. After you make an initial, refundable deposit, you’ll be able to begin building a positive credit history. In time, you may be able to apply for better cards that offer rewards and useful perks.
Highlights & Features
Balance Transfers
A balance transfer is a way to move credit card debt from one credit card to another with the goal of saving money on interest.
| Intro Balance Transfer APR | N/A |
| Regular Balance Transfer APR | 22.99% Variable |
| Balance Transfer Fee | 3%, $10 minimum |
Fees
| Penalty APR | N/A |
| Late Fee | Up to $40 |
| Returned Payment Fee | Up to $29 |
| Additional Cards Annual Fee | N/A |
| Foreign Transaction Fee | 3% |
Cash Advances
Borrowing cash on your credit card is a cash advance. Cash advances usually come with very high fees. Even worse, cash advances can signal to lenders that you’re being irresponsible with money.
| Cash Advance APR | 27.24% Variable |
| Cash Advance Fee | 3%, $10 minimum |
Card Benefits
PERKS
- Free Credit Score
SECURITY
- Zero Liability on Unauthorized Charges
BankAmericard® Secured Credit Card
Highlights
- No application fees or activation fees
- Credit line of $300–$4,900
- Your maximum credit line is determined by your individual ability to pay based on the income that you provide and your security deposit
- Important account information is shared with the 3 major credit bureaus—helping you build your credit history
- After 12 months, you may qualify to have your security deposit returned while you continue to use your card
- Get free access to your FICO® Score from TransUnion, updated monthly.
- Access to credit education topics like using credit cards responsibly, budgeting and more
- No annual fee
ABOUT THE ISSUER
Bank of America
Bank of America has several card types depending on your needs.
Manage your Account & Pay your Bill
You can usually pay your bill online on your
Credit card issuer's websiteThe BankAmericard® Secured Credit Card lives up to its name. Not only does it help cardholders establish and restore their credit as a secured card, it also provides added security for shopping and banking online.
A minimum deposit of $300 is required to open this account. The maximum credit line, up to $4,900, is determined by your income, the amount of the security deposit, and your ability to pay. After 12 months, Bank of America may review your account and give your security deposit back.
This card has no annual fee.
